India is a land of opportunities and if you are planning to set-up or move your business in India, you’ve already started in the right direction.
The Government of India has launched major movements such as Make in India, Start-up India, and NITI Ayog: Transforming India’s Development Agenda. The commencement of these initiatives by the Indian Government has built trust among young and talented entrepreneurs to start a new business in India with ease. India is a country which offers diverse opportunities for investors and attracts new businesses from all around the world. Some of the key factors which have proved beneficial to investors are the rising middle class, investment-friendly policies, high disposable incomes (disposable personal income), and friendly reforms. Let’s look at why you should set up your own business in India -
Advantages of doing business in India
For any new company or organization, the business culture of any economy is very important. India is a hub for start-ups such as e-commerce, financial services, and technology. Indian market is always open to accepting new business ideas which eventually allows new businesses to carve their niche and set up their operations in India.
Sound Foreign Investment Policy
The Indian Government has liberalized Foreign Direct Investment (FDI) in every sector of the economy. This has allowed foreign companies to start their business operations in the Indian market. Once these companies sets up their offices in India, they are able to provide employment opportunities to deserving and talented individuals from India itself and launch new products and services in the Indian market.
Burgeoning middle class
According to a report by McKinsey Global Institute (MGI), it is projected that by 2025, sixty-nine cities in India will have a population of one million each. This indicates there will be a need for businesses to support livelihoods. A large part of the population will join the middle-class income class group as there will be a shift to urban areas from rural areas. Moreover, by 2030, Mumbai’s economy is anticipated to become a huge market of US$245 billion in consumption.
Why this is the right time to start a business in India?
After the U.S. and China, India’s economy is going to be ranked among the top three economies in the world. The economy is growing at 7.1% with private equity investors, institutional investors and angel investors from around the world are eager to invest in the Indian market.
Entrepreneurship has now become socially acceptable. There was a time when people chose employment over entrepreneurship. The young entrepreneurs who have been successful have increased opportunities in the field of Entrepreneurship.
The Indian Government has come up with many incentive schemes for businesses, loan facilities, and concessions. This is being done to allow budding entrepreneurs to set up their own venture and encourage new business development.
There was a time when starting a new business in India used to be very expensive and unmanageable. Good Relations India has partnered with large international companies in India and helped them establish and grow. With offices in Chennai, Bengaluru, and London we get a clear picture of the Indian business scenario and can help kick-start your business setup in India. #Business #India #GoodRelationsIndia